Burcon Nutrascience Corp - BRCNF STOCK NEWS

Burcon NutraScience has launched its next-generation Peazazz®C pea protein, featuring over 90% protein purity and low sodium content. The product, made from North American non-GMO field peas, is designed for various applications including beverages, dairy alternatives, baked goods, and nutrition products. The company has accelerated its launch timeline to expedite customer evaluation processes, with several prospective customers already familiar with Burcon's pea protein technology. The proprietary technology transforms yellow field peas into high-purity protein isolates with neutral flavor and light color.

Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) has announced a partnership with Puratos, a global provider of bakery, patisserie, and chocolate ingredients with over US$3.1 billion in net sales. The collaboration aims to develop innovative applications for Burcon's Puratein® canola protein in the bakery and patisserie sectors. The partnership focuses on creating sustainable and healthier alternatives to egg protein, leveraging canola protein's neutral flavor, functional versatility, and high nutritional value. Together, they will work on developing canola protein-enhanced solutions through Puratos's global R&D network to meet growing consumer demand for nutritious and environmentally friendly options.

Burcon NutraScience announces a Rights Offering to existing shareholders, allowing them to purchase one common share at $0.085 for each share held as of November 27, 2024. This represents a 39% discount to the 5-day volume weighted average trading price. The offering could raise approximately $11.9 million in net proceeds through issuing up to 142,628,096 common shares. The Rights will trade on TSX under 'BU.RT' until February 12, 2025. Insider Group, holding 28.44% of shares, intends to exercise their rights. Proceeds will fund operational costs and explore production capacity expansion opportunities through potential facility leasing.

Burcon NutraScience has formed an alliance with a strategic investor group to acquire and operate a commercial protein production facility. The investor group, led by a Burcon board member, will fund the acquisition while Burcon will operate the facility. The acquisition is expected to close in Q1 2025, with production starting in H1 2025.

This strategic move will enable Burcon to launch its entire portfolio of plant-based protein ingredients. The company has built a pipeline of over 80 prospective customers evaluating its protein ingredients, with several in late-stage product trials for hemp and canola proteins. The facility acquisition aims to accelerate new protein launches and increase market share in the protein ingredient market.

Burcon NutraScience reported fiscal Q2 2024 results with revenues of $40,000, compared to $184,000 in the same period last year. The company posted a net loss of $2.4 million ($0.02 per share), versus $1.4 million ($0.01 per share) year-over-year. Key operational highlights include first commercial production of canola protein isolate and building a pipeline of over 80 prospective customers. R&D expenses increased to $1.3 million from $0.9 million, while cash balance stood at $1.0 million as of September 30, 2024, down from $4.2 million at March 31, 2024.

Burcon NutraScience (TSX: BU) (OTCQB: BRCNF), a plant-based protein technology company, announces a virtual investor presentation scheduled for November 20, 2024, at 5:00 p.m. Eastern time. The presentation will replace the previously announced Fiscal 2025 Q2 Conference Call. Management will discuss the company's capital-light business strategy, commercial production, customer demand, and provide a technology commercialization update and financial outlook. The event will include a Q&A session, and financial results for Fiscal 2025 Q2 will be released on November 14, 2024.

Burcon NutraScience has successfully completed a process scale-up project for a new contract research customer. The project involved multiple pilot-scale extractions using commercial equipment to validate and scale up the manufacturing process, producing representative samples of food ingredients for evaluation. This achievement demonstrates Burcon's technical expertise in processing solutions and aligns with their strategy of supporting food innovators through contract services, utilizing available capacity at their pilot facility.

Burcon NutraScience (TSX: BU) (OTCQB: BRCNF), a plant-based protein technology company, has scheduled its fiscal 2025 second quarter financial results conference call for November 13, 2024, at 5:00 p.m. Eastern time. CEO Kip Underwood highlighted the quarter's significant progress in their go-to-market strategy, emphasizing their commitment to a capital-light business plan focused on production ramp-up, new product line launches, and recurring sales growth. The financial results will be released via press release before the call, which will be accessible through both toll-free and international dial-in numbers.

Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) and HPS Food and Ingredients Inc. will be showcasing their high-purity 95% hempseed protein isolate at the upcoming SupplySide West show in Las Vegas, NV, from October 30th - 31st. The companies aim to highlight the taste, color, and functional benefits of this new-to-the-world protein ingredient.

Kip Underwood, Burcon's CEO, emphasized that their hempseed protein outperforms competing products and enables the creation of clean-label, sustainable, and delicious food and beverage products. Burcon and HPS report building a strong customer funnel for the isolate, which has received positive feedback. Commercial samples are available, and interested parties can visit HPS at Booth #1841 during the show or contact their sales team directly for more information.